NEW DELHI:
The U.S.-based Snap-on Tools, the world's leading manufacturer and marketer of tools, equipment and information resources for professional tool users, has decided to enter India after it got clearance for investing up to $130 million.

With India's booming aviation, automobiles, oil and gas, and power sectors, the company sees a surge in demand for its products and aims at achieving a turnover of $20 million in the next five years, said Nicholas Pinchuk, President (commercial and industrial tools group) of Snap-on Incorporated.

According to Mr. Pinchuk, Snap-on would be launching its four divisions in India  hand tools, power tools, equipment division and cutting tools. In each category the company was in the process of setting up dealer networks across the country. Each business line would have a distinct distribution and sales model. Initially, the company would be importing all its tools from its manufacturing bases in the U.S., Europe and China, he added.